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Solid Growth in Cargo Volumes Under MOL STEP
MOL is one of the world’s premier operators of car carriers. In the three-year period covered by the MOL STEP plan, we continued to make steady gains in car carrier operations. Shipments from Asian markets, principally Japan and South Korea, recorded especially strong growth. Over the past three years, exports from Japan and South Korea rose 34%, while the number of vehicles carried by MOL increased 38%. In 2006, global exports totaled 12 million completed vehicles, of which exports from Japan and South Korea accounted for 70%. Shipments from emerging automobile production regions, such as Latin America and South Africa, were also strong.
A key factor behind the higher shipment volumes was substantial growth in exports of fuel-efficient Japanese cars in an environment characterized by rising gasoline prices. In addition, Middle Eastern countries, where economies were buoyed by higher oil prices, were a source of growing demand for cars.
In a market characterized by an ongoing shortage of shipping capacity, MOL continued to bolster its fleet. We introduced 13 high-capacity car carriers over the past three years, including 3 in the past fiscal year.
Our continued focus on improving quality and efficiency—and our commitment to providing service that is reliable
as well as rapid and smooth—paid off with steady gains in performance. In addition to services that all customers require—such as the provision of shipping capacity to meet demand and preventing any damage to cargo—we also offer distinctive value-added services, such as so-called hot delivery,” which leverages our ability to provide detailed information about where vehicles are loaded on a car carrier. Over the course of MOL STEP, the company’s car carrier operations recorded steady increases in cargo volumes and sales.
The world's leading car carrier fleet
Ocean transportation of completed cars shows steady growth. MOL will launch 25 of the world's most advanced car carriers in three years starting in 2007, and further enhance ties with customers by offering high-quality and competitive services. Business Performance during FY2006 Looking at car carrier operations, a shortage of carriers continued worldwide, under strong trade caused by the export of completed cars, mainly from Japan and Asia. However, we increased transport capabilities by launching a total of nine large-scale car carriers after 2005 and working on more efficient operation of existing vessels. Thanks to these efforts, we increased the number of units transported in offshore trade as well as from Japan and Asia. As a result, this operation increased in both revenue and profits.
Worldwide Network
In step with the globalization of automobile manufacturing, we have developed a worldwide route network,in addition to our tradional Japan-based export operations. In recent years, we have expanded our service to include Thailand-Australia / New Zealand and South Africa-Japan / Far East routes. Now, our worlwide network provides various services to ports in more thant 100 countries.
Top-quality service
In recent years customers have benn demanding ever higher level of service quality. MOL has been doing its utmost to improve control of vessel schedules and ensure more frequent sailings through optimum management of our extensive and high-quality fleet.